Funding you earn now, next payment 08:00 UTC−0.0315%/8h= −34.5% APRnext payment −$3.15 per $10,000 · paid last 24h −0.003%
Price spread now: Bitget against Phemex+0.122%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$560.559% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)−0.216%−$22 · spread now +0.122%, 7d avg 0.000%
=The price spread pays, funding is against you. Bitget is 0.122% dearer against Phemex than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of 0.000%): +$12 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 31 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.009% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.15 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000PEPEUSDT | 0.000004990 | 0.0650 | pay 0.0650% / 8h | 2h 27m | $2.4M | $7.9M | 50x |
| Short | Bitget PEPEUSDT | 0.000004997 | 0.0335 | get 0.0335% / 8h | 2h 27m | $44.8M | $210.0M | 75x |
Phemex u1000PEPEUSDT
Bitget PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$66.11
- Price spread: +0.122% → 0.000%
- $12.21
- Slippage, 4 orders
- −$31.9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$109.8
- Costs to cover
- 0.559%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Bitget: live order book, 1 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phemex live order book, 6 min ago | 4.00 bp | 16.6 bp −$17 | 33.9 bp −$339 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 1.50 bp | 9.1 bp −$9 | 11.7 bp −$117 | doesn't fit | doesn't fit |
PEPE on 35 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004991 | +0.004% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0001% | 1h | 0.000004980 | −0.212% | $6K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004996 | +0.112% | $57K | $177K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004993 | +0.042% | $97.9M | $404.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004991 | +0.012% | $160.8M | $94.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004989 | −0.034% | $24.8M | $70.9M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005001 | +0.207% | $599K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005000 | +0.185% | $27K | $537K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004994 | +0.072% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004983 | −0.144% | $558K | $4.1M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0177% | 1h | 0.000004989 | −0.028% | $2K | $10K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004987 | −0.076% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDTshort | +0.0335% | 8h | 0.000004997 | +0.122% | $44.8M | $210.0M | 75x | |
| Orderly PERP_1000PEPE_USDC | +0.0400% | 8h | 0.000004989 | −0.022% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0417% | 8h | 0.000004993 | +0.052% | $46.0M | $682.3M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0543% | 8h | 0.000005004 | +0.273% | $4.4M | $27.9M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0547% | 8h | 0.000004999 | +0.178% | $6K | — | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0553% | 1h | 0.000004986 | −0.088% | $71K | $127K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0616% | 1h | 0.000004990 | −0.006% | $73K | $831K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0640% | 1h | 0.000005002 | +0.232% | $603 | $3K | 10x | as long as short |
| Lighter 1000PEPE | +0.0648% | 1h | 0.000005001 | +0.212% | $593K | $9.0M | 10x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0650% | 8h | 0.000004990 | long leg | $2.4M | $7.9M | 50x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000004986 | −0.088% | $638K | $36.6M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0730% | 1h | 0.000004999 | +0.172% | $154K | $813K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0744% | 1h | 0.000004988 | −0.055% | $164K | $943K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0762% | 8h | 0.000004995 | +0.086% | — | $2.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0784% | 1h | 0.000004996 | +0.112% | $528K | $277K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0785% | 8h | 0.000004999 | +0.176% | $95.0M | $301.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0786% | 8h | 0.000005002 | +0.238% | $140.3M | $1.41B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000004991 | +0.012% | $141K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0837% | 8h | 0.000004995 | +0.088% | $1.8M | $11.2M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0857% | 1h | 0.000004984 | −0.120% | $4.5M | $16.8M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0996% | 1h | 0.000004994 | +0.072% | $52.6M | $152.1M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1117% / S −0.2147% | 1h | 0.000004000 | −19.846% | $63K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000004992 | +0.032% | $3K | $111K | 12x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
BingX 1000PEPE-USDC
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP